Category: Finance
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Merck Serono, Compugen to Form Toxicity Biomarkers Start-Up
Merck Serono, a division of the global pharmaceutical company Merck in Geneva, Switzerland and the drug discovery company Compugen in Tel Aviv, Israel have agreed to form Neviah Genomics, a new enterprise to develop biomarkers for the prediction of drug-induced toxicity. While some financial arrangements were revealed, the total value of the deal was not…
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Nanotech Window Glass Developer Lands $55M in Venture Funds
Soladigm, a developer of energy-efficient office building window glass in Milpitas, California, secured $55 million in series D venture funding, the fourth financing cycle after initial start-up. The funding round, led by Reinet Investments and NanoDimension, join current investors DBL Investors, GE, Khosla Ventures, Navitas Capital, Sigma Partners, and The Westly Group. Soladigm’s lead product,…
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Challenge Seeks Method to Connect Tissues Without Sutures
A new challenge on InnoCentive seeks a method for surgically connecting fluid-bearing tissues without using sutures. The competition, sponsored by the Cleveland Clinic, has a maximum prize of $30,000 and a final submission deadline of 12 August 2012. InnoCentive in Waltham, Massachusetts conducts open-innovation, crowd-sourcing competitions for corporate and organization sponsors. The Cleveland Clinic notes…
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Vaccine Developer Awarded Countermeasures Center Contract
Emergent BioSolutions Inc. in Rockville, Maryland was awarded a contract from Biomedical Advanced Research and Development Authority (BARDA) to establish a development center for medical countermeasures against public health emergencies. BARDA is a division of the U.S. Department of Health and Human Services (HHS). The eight-year contract is valued at $220 million. The agreement will…
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Carnegie Mellon Spin-Off Gets Transportation SBIR Funding
A company formed by developers of a smartphone program that tracks real-time bus or light rail locations and seating has received a Small Business Innovation Research (SBIR) grant to commercialize the app. Tiramisu Transit LLC, a spin-off company formed by researchers at Carnegie Mellon University in Pittsburgh, received the $102,000 award from the U.S. Department…
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Venture Fund to Invest $442M in Europe, U.S. Start-Ups
The venture capital company Index Ventures, based in London, unveiled a €350 million ($442 million) fund to invest largely in start-up technology companies. The company expects to focus its new investments on European enterprises, but include start-ups in the U.S. and Israel as well. Index Ventures plans to concentrate on seed and early-stage investments in…
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MassVentures Starts New $5 Million Early-Stage Fund
MassVentures, Massachusetts’s venture capital agency, unveiled a new $5 million fund for early stage technology companies. The organization had been known, up to yesterday, as the Massachusetts Technology Development Corporation. The new MassVentures financing will be managed through the Massachusetts Emerging Technology Fund of MassDevelopment, a state economic development agency. The Emerging Technology Fund makes…
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Blood Disease Start-Up Lands $40.7M in Venture Funding
Global Blood Therapeutics Inc., a biotechnology company in San Francisco launched today with $40.7 million in funding from venture capital company Third Rock Ventures. The company plans to develop small molecule drugs to treat genetic blood disorders, such as sickle cell disease. The company’s founders include three biomedical researchers from University of California in San…
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Georgia Tech/Emory Spin-Off Gains SBIR Funding
A spin-off company founded by faculty at the biomedical engineering department shared by Georgia Tech and Emory University in Atlanta has received a small-business grant for its technology that protects the delivery of cell-based therapies, such as stem cells. SpherIngenics Inc., also in Atlanta, was awarded the two-year $730,000 Small Business Innovation Research (SBIR) funding…
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Five More Pharma Companies Join NIH Drug Extension Project
A program at National Institutes of Health (NIH) to find new uses for currently tested drugs gained five more pharmaceutical company participants. Abbott, Bristol-Myers Squibb, GlaxoSmithKline, Janssen Pharmaceutical (a division of Johnson & Johnson), and Sanofi will take part in the Discovering New Therapeutic Uses for Existing Molecules program, run by National Center for Advancing…